Reading 50 Example 6 equity swap pay fixed/floating

In (B) the payer pays a fixed rate and the value of the stock return is St/S0 - PV($1).

In © the payer pays a floating rate, the stock return is simply St/S0.

Why do we subtract the PV($1) in the first case but not the second?

Edit: I got it. In the floating rate case we pay back the notional $1 at the end.